BUZZ-Emergent rises on improved 2024 sales view, narrower loss forecast

Reuters
07 Nov 2024
BUZZ-Emergent rises on improved 2024 sales view, narrower loss forecast

** Shares of Emergent BioSolutions EBS.N rise 20.1% to $11.05 premarket

** Late on Wednesday, drugmaker raised the lower end of its annual rev. forecast to $1.07 bln from $1.05, while keeping upper end at $1.13 bln

** It also expects a narrower loss of $30 mln to $50 mln for 2024 versus its earlier estimate of $75 mln to $115 mln

** Co's Q3 adj. EPS of $1.37 beat Wall Street estimates of 14 cents - LSEG

** However, EBS' Q3 rev. of $293.8 mln missed estimates of $297.5 mln

** Co also said its smallpox drug Tembexa was included in a clinical trial for mpox led by the Africa Centres for Disease Control and Prevention

** Up to last close, stock has almost quadrupled YTD

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))

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